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I want to know the total consumer surplus and total producer surplus of this question:Let market demand equalQD= 2802Pand market supply equalQS=10 + 0.5P. Draw
I want to know the total consumer surplus and total producer surplus of this question:Let market demand equalQD= 2802Pand market supply equalQS=10 + 0.5P. Draw the market, labeling supply, demand and the x- and y-intercept for demand and the y-intercept for supply. Remember that thegraphs you draw are technically the inverse supply and demand curves,which putPon the vertical access andQon the horizontal access, whichis not how the equations are written above
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